09 December 2019
More stringent regulation is the top challenge faced by life insurers in Australia and scrutiny of commissions here may limit investment in technology, a new report from EY says...
09 December 2019
TAL must pay a trauma claim for a customer who suffered a heart attack even though he wasn’t covered by the policy, in a decision influenced by the emerging controversy over universal terms and conditions and criticising the Life Insurance Code of Practice...
09 December 2019
AMP Life is defending its claims-handling for group insurance after Choice subsidiary Super Consumers Australia labelled delays “abhorrent” in an open letter...
09 December 2019
Life insurance policies are rated as key employee benefits, yet only 60% of employees understand how they work, a MetLife report says...
09 December 2019
The corporate regulator is warning superfunds providing scaled advice to members to address members’ insurance needs, after uncovering a number of cases where advisers inappropriately excluded insurance from discussions...
09 December 2019
OnePath must pay extra interest on a total and permanent disability benefit amount for a claim that it took more than three years to accept, the Australian Financial Complaints Authority says...
09 December 2019
Some superannuation members in dangerous jobs may be left uninsured in a workplace accident if their superfund decides it is too difficult to apply an exemption in recent super insurance legislation, according to a new paper...
09 December 2019
Life insurer TAL is raising skin-cancer awareness with free pop-up skin check clinics at three of Australia’s most popular beaches as summer gets underway...
02 December 2019
The Australian Prudential Regulation Authority will impose an upfront capital requirement on all individual disability income insurance providers from March 31 next year until they develop sustainable products and pricing...
02 December 2019
Life insurance industry growth and profits have been badly hit by disrupted advice distribution channels over the past 18 months, a KPMG analysis says...
02 December 2019
The life industry’s net profit declined to a mere $200 million to September this year, diving steeply from $1.8 billion in the previous year, according to the Australian Prudential Regulation Authority’s life insurance statistics...
02 December 2019
The Financial Planning Association and the Association of Financial Advisers have welcomed the Australian Securities and Investments Commission’s decision to take a “facilitative” approach to contentious ethics standards...
02 December 2019
The Consumer Action Law Centre is calling for a blanket ban on unsolicited sales calls across the economy, following the CommInsure hawking case...
02 December 2019
Dover Financial Advisers and its founder Terry McMaster misled clients through its client protection policy, the Federal Court has found...
02 December 2019
Financial adviser Peter Jianchao Xu has been banned from the industry for five years by the Australian Securities and Investments Commission for policy churning...
02 December 2019
The Financial Planning Association is consulting its members on a new discussion paper examining the future of the financial advice industry over the next five years...
02 December 2019
Munich Re has promoted Nicolas Carro to Life & Health CEO of Australasia, with responsibility for operations in Australia and New Zealand...
02 December 2019
A review of financial advice fee disclosure statements by the Australian Securities and Investments Commission has found widespread non-compliance with the disclosure obligations...
02 December 2019
Seven people and one business were honoured at the Financial Planning Association awards night in Melbourne last week...
02 December 2019
The Reserve Bank of New Zealand will review life insurer solvency requirements alongside a review of the Insurance Prudential Supervision Act, after noticing a fall in solvency buffers...